Fred. Olsen Windcarrier Reels In $90,5M in New Contracts

OE Staff
Wednesday, January 5, 2022

Offshore wind installation firm Fred. Olsen Windcarrier (FOWIC) said Tuesday it had recently executed three new contracts and reservation agreements with combined revenue of up to 80 million euros (~$90,5 million).

The contracts, with undisclosed clients, will cover around 300 days in 2022 and 200 days in 2023, in both Europe and the Asia Pacific.

Two contracts are linked to projects where Fred. Olsen Windcarrier is already involved.  

Following these new contracts, FOWIC’s total revenue backlog stands at around 355 million euros (~$401,8 million) of which 18% is linked to options. 

The yearly distribution of the backlog is 152 million euros in 2022,126 million euros in 2023, and 77 million euros in 2024.

Also, as reported Tuesday, FOWIC placed a firm order for a new 1600t crane for the Brave Tern jack-up unit upgrade.

The installation on the vessel is expected to be completed in 2024.  Separately,  ongoing installation and upgrade work on Bold Tern at  Keppel Fels is progressing according to plan and budget. 

"The upgrade program will secure the continued strong competitiveness of FOWIC’s three existing vessels also for the next generations of turbines coming to the market," FOWIC said.

Categories: Offshore Vessels Industry News Activity Europe Asia Offshore Wind

Related Stories

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com